Unit-II

Analytical decision-making: Analytical decision-making process, characteristics of the analytical

decision-making process. Breaking down a business problem into key questions that can be
answered through analytics, Characteristics of good questions, Skills of a good business analyst,
The Basic Tools of Business Analytics - Data exploration and visualization (using tools like
Excel, Tableau, or Power BI), Concept of Statistical analysis and hypothesis testing (Hypothesis
testing numerical / tests not expected) Data Visualization: Concept of Data Visualization,
Popular Data Visualization tools, Exploratory Data Analysis(EDA), Data Cleaning, Data
Inspection. (7+2)
Decision Making
 Definition: Decision Making is the cognitive process of selecting a course of action, out of a
set of available alternatives, so as to achieve the goals of the organization.
 It is an indispensable part of the management, as decisions are made at each level by the
management executives.

 Characteristics of Decision Making

 The characteristics of decision making are discussed as under:

 Selective: It is a selective process in which the optimal alternative is opted, among the various
alternatives. The selection of the alternative is done, only after evaluating all the alternatives
against the objectives.
 Cognitive: As the decision making encompasses the application of intellectual abilities, such as
analysis, knowledge, experience, awareness and forecasting, it is a cognitive process.
 Dynamic: It is a dynamic activity in the sense that a particular problem may have different
solutions, depending upon the time and circumstances.
 Positive or Negative: A decision is not always positive, sometimes even after analysing all the points a
decision may turn out as a negative one.
 Ongoing process: We all know that a company has perpetual succession and various decisions are
taken daily by different levels of management to keep the firm going. These decisions are taken,
keeping in mind the objectives of the organization.
 Evaluative: Evaluation of the possible alternatives using critical appraisal methods is a part of the
decision-making process.
 It is a problem-solving activity which produces a solution considered as the most favorable and
appropriate one, as per the situation.
 Process of Decision Making
 Decision making involves the identification and selection of the alternatives on the basis of the values,
preferences, requirements, and beliefs. To begin the process objectives must be defined, classified and

arranged in the order of their importance.

 Defining the problem: The first and foremost step in the decision-making process is to
clearly identify the problem for which a decision has to be taken.
 Collecting information: Gathering the relevant information concerning the problem is the
next step in the process. For this purpose, an internal assessment needs to be done, while
seeking external sources for the information.
 Identifying alternatives: After collecting the pertinent information, you will come across
the multiple courses of action which can be taken to solve the given problem.
 Weighing the alternatives: On the basis of different parameters such as risk, economy
for effort, timing, and limitation of resources weigh each alternative and check how
accurately it resolves the issue and what are its consequences.
 Selecting the best possible option: After weighing each and every alternative, the next
step in this process is to select the best possible course of action, or a combination
thereof. The alternative which is able to attain the objectives is regarded as the tentative
decision, which is evaluated for possible consequences.
 Planning and Execution: To convert the decision into action, the course of action so
selected is taken, along with that supplementary actions are taken to block negative
consequences (if any).
 Taking the follow up of the action: In the last step, the outcome of the decision is
reviewed and evaluated as to whether it is capable of resolving the problem.
 A decision passes through different stages, so as to solve the problem at hand. The
solution depends on how effectively the decision is being made and implemented. An
ideal decision is action-oriented, goal-directed and efficient.
 Problems in Decision Making:
 There are a number of problems which arise at the time of decision making, which are:
 Accuracy
 Timing
 Communication
 Participation
 Implementation
 A decision acts as a direction to the others, as to what can be done or what to avoid in a
particular situation.
 Types of Decisions
Decisions are classified into two categories:

 Programmed Decisions: The decisions taken by way of standard operating procedures or

another method. The situations are routine and recurring in nature. These are effective for
solving day to day issues.
 Non-programmed Decisions: These are unique and once in a lifetime decisions, as these
are not structured. To make such decision logical reasoning and judgment are required.
 Intuition and Reasoning are the two determinants of a decision, wherein intuition is all
about the gut feeling or instinct of the decision-maker concerning the courses of action,
while the reasoning means using the logical thinking, facts and figures to decide
something.
 Decision-making process
 What is a decision-making process?
 A decision-making process is a series of steps one or more individuals take to determine
the best option or course of action to address a specific problem or situation. Often,
managers and executives use the process to plan how to carry out business initiatives or
 set specific actions in motion. Ideally, a business decision is based on the analysis of
objective facts, aided by the use of artificial intelligence (AI) or other advanced
technologies and tools.
 7 steps of the decision-making process
 When planning a strategy or initiative or when responding to an issue or threat, decision-
makers must frequently choose from multiple options. There are a variety of alternatives
to weigh and a large volume of decisions that must be made on an ongoing basis. This
makes the implementation of an effective decision-making process a crucial element of
managing business operations successfully.

 The decision-making process usually comprises these seven (or similar) steps.
 Decision-making processes vary in terms of the number of steps they include and what
each step accomplishes. The process usually involves these seven steps or similar steps:
 Articulate the decision to be made. The decision-making team should clearly identify the
decision it's attempting to make. Everyone on the team should fully understand the
circumstances surrounding the decision and what they're trying to achieve by making this
decision. There should be no ambiguity about the problem or situation involved. The
more precisely the team can articulate the decision and why it should be made, the easier
it will be to proceed with the rest of the decision-making process and the better the
outcome.
 Gather relevant information. Once the decision has been defined, the team should gather
all pertinent information. It might seek historical data related to the issue or track down
information about similar efforts in the organization that have either succeeded or failed.
It should gather relevant information from outside the organization, such as studies or
market research. The team might also benefit from talking to external colleagues in
similar circumstances or perhaps hiring a consultant.
 Identify possible solutions. Armed with the necessary information, the team can start
identifying potential options for addressing its situation. The team might need to
determine how it's going to expand storage capacity for the coming year, for example.
Possible solutions could include purchasing new storage systems, expanding into the
cloud, repurposing existing systems, leasing equipment, or other options. This is a good
 time for creative thinking and brainstorming, although the final list of solutions should
include only the most viable ones.
 Evaluate the possible solutions. The team should carefully evaluate each possible
solution, identifying both its strengths and weaknesses. It should also look within and
without the organization for examples of how similar solutions have fared. In certain
cases, the team might eliminate some alternatives here because of obvious problems or
overriding challenges. The team's evaluation should also include an assessment of how a
particular solution might impact key stakeholders and implementation requirements.
 Choose the best solution. After evaluating the potential solutions, the team should decide
on which one would best suit its needs. Sometimes, the choice will be straightforward
and one solution will have percolated up to the top of the list. In other cases, the choice
will not be so clear-cut and the team will need to weigh the tradeoffs between several
promising solutions. That said, the team might find that the best decision is to combine
several of the alternatives into one overarching solution.
 Implement the selected solution. Once the decision is made, it's time to act. The team
should develop a detailed implementation plan, designating responsibilities specifically.
Every decision has consequences; the planning should account for possible challenges
and identify a process for handling unexpected setbacks. Open communication is
essential, along with clearly defined roles and expectations.
 Review the implemented solution. Once the solution is implemented, the team should
evaluate its implementation and the decision to select that solution. The team should
ensure the solution addresses the original issue. If it does not, the team might need to
repeat at least part of the decision-making process. The team should evaluate whether
another alternative might have proven better. This is also a good time to review the entire
decision-making process to determine what worked and where the process could be
improved so future decision-making can be more streamlined and effective.
 What is a decision-making model?
 A decision-making model is a system or process that individuals can follow or imitate to
ensure they make the best choice among various options. A model makes the decision-
making process easier by providing guidelines to help businesses reach a beneficial
conclusion.
 Decision models also make the decision-making process visible and easily communicable
for everyone involved, including managers, employees and other stakeholders. Models
can support a wide variety of purposes across departments, businesses and industries, but
they are especially useful when selecting software vendors or new tools, choosing new
courses of action, or when implementing changes that affect many people.
 Types of decision-making models
 Decision-making models often incorporate, consolidate or expand on the seven decision-
making steps described previously. The exact approach will depend on the model and
individuals implementing those models. Common types of decision-making models
include the following:
 Rational model. Rational decision-making is the most popular model. Logical and
sequential, it focuses on listing as many alternative courses of action as possible. Once all
options are laid out, they can be evaluated to determine which is best. This model often
includes pros and cons for each choice, with the options listed in order of their
importance.
 A rational decision-making model typically includes these steps:
 Identify the problem or opportunity.
 Establish and weigh decision criteria.
 Collect and organize all related information.
 Analyze the situation.
 Develop a variety of options.
 Assess all options and assign a value to each one.
 Decide which option is best.
 Implement the decision.
 Evaluate the decision.
 Intuitive model. This type of decision-making relies more on experience and accumulated
knowledge than on formalized decision-making steps like those in the rational model.
The intuitive model depends heavily on an inner knowing -- or intuition -- about what the
right option is. However, this approach is not based solely on gut feelings. It also
incorporates unconscious behavior such as pattern recognition or similarity recognition,
while considering the importance or prominence of an option.
 Recognition primed decision (RPD) model. This model is a combination of rational and
intuitive decision-making. Its defining element is that the decision-maker considers only
one option instead of weighing all. This model is often used in situations that call for an
immediate decision.
 The RPD process involves these steps:
 Identify the problem, including all its characteristics, problem cues, expectations and
business goals.
 Think through the plan and perform a mental simulation to see if it works and what
modifications might be needed.
 If the plan seems satisfactory, make the final decision and implement the plan.
 In the RPD model, alternative courses of action are considered only if the original plan
does not produce the intended results. The success rate of this model correlates to the
decision-makers experience and expertise.
 Creative model. In this model, decision-makers collect information and insights about the
problem and develop initial possible solutions. Then, they enter an incubation period
where they do not actively think about the options. Instead, they allow their unconscious
to take over the process in hopes that it will eventually lead them to a realization and
answer, which they can then test and finalize.
 These are a few of an evolving list of cognitive biases that can affect decision-making,
often but not always in negative ways.
 Today, businesses typically take more systematic, data-driven approaches to the decision-
making process. In this way, managers and executives can use techniques such as cost-
benefit analysis and predictive modeling to justify their decisions. It also enables lines of
business to build process automation protocols that can be applied to new situations as
they arise, removing the need for each decision to be handled as a unique event.
 If designed properly, a data-driven, systematic decision-making process reduces the
possibility that the biases and blind spots of individuals will yield poor decisions. On the
other hand, data isn't infallible. Observing a decision's business impact is a crucial step in
case things go wrong. The potential for humans to choose the wrong data also highlights
 the need for monitoring the analytics and decision-making stages rather than blindly
going where the data is pointing.
 Challenges in the decision-making process
 Balancing data-driven and intuitive approaches to decision-making is not easy. Managers
and executives might be skeptical about making decisions that rely on data if that data
goes against their intuition. They might also feel that their experience and knowledge are
being discounted or ignored. As a result, they might push back against the findings of
business intelligence (BI) and analytics tools during the decision-making process.


Adoption of BI tools is not automatic. This to-do list identifies key steps.
 Getting everyone on board with business decisions can also be a challenge, particularly if
the decision-making process isn't transparent and decisions aren't explained well to the
affected parties. An organization should implement a policy for how decisions should be
communicated internally and put into place a change management strategy to deal with
the effects of decisions on business operations when warranted.
 Decision-making models can also be used to avoid these challenges by creating a
structured, transparent process.
 Decision management
 Decision management -- also known as enterprise decision management or business
decision management -- aims to improve the decision-making process by using all
available information to increase the precision, consistency and agility of decisions.
Decision management also focuses on making good choices by taking known risks and
time constraints into consideration.
 Decision models and decision support systems are key elements of decision management.
Decision management processes also use business rules, business intelligence, continuous
 improvement, artificial intelligence and predictive analytics to access the capabilities of
big data and support demanding operational requirements as well as user expectations.
 Decision management systems treat decisions as reusable assets and introduce technology
at decision points to automate the decision-making process. Decisions might be fully
automated, or they might be presented as possible choices for someone to select.
 Increasingly, organizations that deal with financial services, banking and insurance are
integrating decision-making software into their business process systems and customer-
facing applications. This approach is especially useful for high-volume decision-making
because automating such decisions can enable more efficient, information-based and
consistent responses to events such as potential security threats.
 Using the right strategies is a crucial key to unlocking the benefits of real-time analytics
and empowering organizations with agile data-driven decision-making. See how
to empower decision-making with real-time insights.
 Here are some steps you can take to break down a business problem into key
questions that can be answered through analytics:
 Understand the context:
 Understand the business goals and metrics, and what you want to achieve.
 Identify the problem:
 Define the problem statement and identify the type of problem you're trying to solve.
 Identify key questions:
 Identify the key business questions that data can answer.
 Break down the question: Brainstorm to consider what you need to know from the data to
answer the question.
 Refine the question:
 Make the question as specific and focused as possible.
 Prioritize questions:
 Choose to focus on the questions that will make the biggest difference.
 Define success criteria:
 Decide what success means for each goal.
 Simplify the problem:
 Focus on a subset of data, a specific case, or a simpler hypothesis.
 Define metrics for success:
 Define KPIs, leading indicators, and lagging indicators.
 7 Steps for Solving Business Problems, or Learning How to Eat an Elephant
 Describe the problem. Do this in writing. ...
 Break the problem into smaller, more manageable parts. ...
 Write down the obstacles. ...
 Brainstorm possible solutions. ...
 Stretch to find one more solution. ...
 Pick the best solution. ...
 Act on it

 What is a key business question?

 After every implementation, our introspection has led us to one thing –
 Key Business Questions (KBQs) that we asked or missed. KBQs are the most critical
questions a business needs to answer in order to make informed decisions, achieve goals,
and drive success. They act as a roadmap for analysis, strategy, and action
 KBQs are the most critical questions a business needs to answer in order to make
informed decisions, achieve goals, and drive success. They act as a roadmap for analysis,
strategy, and action. While many characteristics define the quality of KBQs, I find the
RAISE approach as the most important one:
 Relevant: the questions must be directly linked to the business goals and objectives. They
guide data acquisition, storage, and analysis efforts, ensuring that the data ecosystem
within the organization is not just robust but also purpose-driven. This focused approach
to data management prevents the common pitfalls of data hoarding and underutilization.
 Actionable: the questions should lead to concrete actions and solutions as a natural
response. The power of data and AI lies in their ability to generate actionable insights.
KBQs frame the analytical tasks in a way that the insights generated are actionable and
directly applicable to decision-making processes. This actionability transforms data and
AI from theoretical jargon into practical instruments of business strategy.
 Impactful: the KBQs should guide the enterprise in the strategic direction, resource
allocation, and decision-making. It must have (or lead to) a significant impact on the
business. Given that AI models are becoming increasingly accessible, the challenge is no
longer just about building or deploying models but ensuring their impact is visible to
businesses in a reasonable time.
 Specific: the questions must clearly outline the information or insights needed to make a
decision or solve a problem. With the explosion of data in recent years, the lack of
specificity will overwhelm the decision-makers. KBQs must guide organizations in
filtering and prioritizing data that is most relevant to their strategic questions, thereby
reducing the noise and focusing on valuable insights.
 Ethical: every progress with data and AI must ensure that it respects ethics and privacy.
The KBQs must align with the company's core values and ethical standards to ensure that
the business remains true to its principles and maintains its reputation.
 Good questions have a number of characteristics, including:
 Purposeful
 Good questions have a clear reason for being asked. For example, "How Paris is well
located to be the capital of France?" is more purposeful than "What is the capital of
France?"
 Focused
 Good questions are focused on a single topic and ask the respondent to focus on that
topic.
 Clear
 Good questions are self-evident and easy to understand. They should be free of bias and
not suggest how the respondent should answer.
 Open-ended
 Good questions encourage original and creative answers, rather than being answered with
a simple "yes" or "no".

 Follow-up questions
  Follow-up questions can help to clarify and ensure you get the most important
information.
 Specific
 Good questions are specific and refine the scope of the question. For example, "Does
eating at least 5 servings per day of fresh fruits and vegetables lead to fewer upper
respiratory tract infections (colds)?" is more specific than "Is eating a healthier diet better
for you?
 What makes a good question?
 Purpose. A good question is one that you have a good reason for asking, and the
information expected from the answer should guide you in the effort you're trying to
accomplish. ...
 Clarity. ...
 Simplicity. ...
 Concision. ...
 Open-ended nature. ...
 Relevance and good timing. ...
 Neutrality. ...
 Insight and engagement.
 Business analysts should have a variety of skills, including:
 Communication
 Business analysts communicate with many people throughout an organization, so they
should be able to communicate well in a variety of ways.
 Data analysis
 Business analysts need to be proficient in data analysis tools and techniques, and be able
to visualize data effectively.
 Problem-solving
 Business analysts should be able to solve problems and think critically.
 Change management
 Business analysts help organizations adopt new ways of working, so they should be able
to manage change effectively.
 Technical skills
 Business analysts may need to know how to use programming languages like SQL,
Python, and R, as well as visualization tools like Power BI and Tableau.
 Project management
 Business analysts should be familiar with project management methodologies and tools.
 Industry knowledge
 Business analysts should have industry or business knowledge.
 Database usage
 Business analysts need to know how to use different types of databases, including
relational, non-relational, cloud, and real-time databases.

 Here are some basic tools for business analytics:

  Tableau
 A popular tool for visualizing large amounts of data to make it easier to use
 Qlik
 A popular platform for consolidating data sources into a single view, and for embedding
visual analytics into applications and portals
 Microsoft Excel
 A reliable tool for calculations, data and budget assessments, and for creating charts and
pivot tables
 Microsoft Power BI
 A leading tool for business intelligence that provides advanced analytic tools, reports, and
visualizations
 SAS
 A versatile and robust tool that is easy to learn for beginners
 Domo
 An all-in-one analytics and business intelligence solution that helps businesses connect,
transform, and analyze data
 dbt
 A modern data modeling tool that provides features such as version control,
modularization, and documentation
 Sisense
 A tool that helps manage data sets and visualize data without the need for IT specialists
 Google Analytics
 A tool that provides insights into website performance, which can help businesses make
data-driven decisions
 What is Data Exploration?
 Data exploration definition: Data exploration refers to the initial step in data analysis in
which data analysts use data visualization and statistical techniques to describe dataset
characterizations, such as size, quantity, and accuracy, in order to better understand the
nature of the data. Data exploration techniques include both manual analysis and
automated data exploration software solutions that visually explore and identify
relationships between different data variables, the structure of the dataset, the presence of
outliers, and the distribution of data values in order to reveal patterns and points of
interest, enabling data analysts to gain greater insight into the raw data. Data is often
gathered in large, unstructured volumes from various sources and data analysts must first
understand and develop a comprehensive view of the data before extracting relevant data
for further analysis, such as univariate, bivariate, multivariate, and principal components
analysis.
 ‍Data Exploration Tools
 Manual data exploration methods entail either writing scripts to analyze raw data or
manually filtering data into spreadsheets. Automated data exploration tools, such as data
visualization software, help data scientists easily monitor data sources and perform big
data exploration on otherwise overwhelmingly large datasets. Graphical displays of data,
such as bar charts and scatter plots, are valuable tools in visual data exploration.
 ‍A popular tool for manual data exploration is Microsoft Excel spreadsheets, which can be
used to create basic charts for data exploration, to view raw data, and to identify the
correlation between variables. To identify the correlation between two continuous
 variables in Excel, use the function CORREL() to return the correlation. To identify the
correlation between two categorical variables in Excel, the two-way table method, the
stacked column chart method, and the chi-square test are effective. There is a wide
variety of proprietary automated data exploration solutions, including business
intelligence tools, data visualization software, data preparation software vendors, and
data exploration platforms. There are also open source data exploration tools that include
regression capabilities and visualization features, which can help businesses, integrate
diverse data sources to enable faster data exploration. Most data analytics software
includes data visualization tools.
 ‍Why is Data Exploration Important?
 Humans process visual data better than numerical data, therefore it is extremely
challenging for data scientists and data analysts to assign meaning to thousands of rows
and columns of data points and communicate that meaning without any visual
components.
 ‍Data visualization in data exploration leverages familiar visual cues such as shapes,
dimensions, colors, lines, points, and angles so that data analysts can effectively visualize
and define the metadata, and then perform data cleansing. Performing the initial step of
data exploration enables data analysts to better understand and visually identify
anomalies and relationships that might otherwise go undetected.


 What is the main purpose of data visualization?

 Data visualization is the practice of translating information into a visual context, such as a
map or graph, to make data easier for the human brain to understand and pull insights from.
The main goal of data visualization is to make it easier to identify patterns, trends and
outliers in large data sets. The term is often used interchangeably with information graphics,
information visualization and statistical graphics.
 Data visualization is one of the steps of the data science process, which states that after data
has been collected, processed and modeled, it must be visualized for conclusions to be made.
Data visualization is also an element of the broader data presentation architecture discipline,
which aims to identify, locate, manipulate, format and deliver data in the most efficient way
possible.
 Data visualization is important for almost every professional discipline. Teachers use it to
display student test results, computer scientists to explore advancements in artificial
intelligence (AI) and executives to share information with stakeholders. It also plays an
important role in big data projects. As businesses accumulated massive collections of data,
they needed a way to get an overview of their data quickly and easily. Visualization tools
were a natural fit to provide useful information.
 Visualization is central to advanced analytics for similar reasons. When a data scientist is
writing advanced predictive analytics or machine learning algorithms, it's important to be
able to visualize the outputs to monitor results and ensure that the models are performing as
intended. Visualizations of complex algorithms are generally easier to interpret than
numerical outputs.
 Why is data visualization important?
 Data visualization provides a quick and effective way to communicate information in a
universal manner using visual information. Business professionals have different areas
and levels of expertise, but visualizations are meant to be understandable by anyone.
Visualizations make it easier for employees in an organization to make decisions and act
based on insights derived from them.
 Visualizations help businesses in many ways. Some examples include the following:
 They help isolate factors that affect customer behavior.
 They identify products or services that need to be improved.
 They make data more memorable for stakeholders.
 They help organizations understand when and where to place specific products.
 They can predict sales or revenue volumes.
 Benefits of data visualization
 The benefits of data visualization include the following:
 Actionable insights. A broad spectrum of an organization's personnel can understand
visuals presented in business intelligence dashboards. This lets users absorb information
quickly, get better insights and figure out the next steps faster.
 Exploration of complex relationships. Visualization platforms with advanced capabilities
can display complex relationships among data points and metrics, allowing an
organization to make faster data-based decisions.
 Compelling storytelling. Data dashboards that are visually compelling will maintain the
audience's interest with information they can understand.
 Accessibility. Visualization tools make data more accessible and understandable, so that
laypersons or semi-technical users who aren't data scientists can interpret and analyze it.
 Interactivity. Interactive dashboards have the functionality to allow users to click on
various aspects of data displays to get more information. This is especially useful for
those with less expertise on the subject area covered by the data. Static displays don't
allow this.
 Disadvantages of data visualization
 While data visualization comes with many advantages, it can also pose several
challenges, including the following:
 Complexity. A highly complicated visualization could appear cluttered or make it
difficult to glean valuable insights. More complexity also means users need training on
the tools being used or risk creating the wrong visual type for the data being used.
 Potential for misinterpretation. Users might have good intentions when using a
visualization platform, but they can draw incorrect conclusions from detailed
visualizations.
 Data privacy and security. Users must consider the security and privacy of the data being
visualized. A platform might be susceptible to cyber attacks, thus compromising the
security of data being used, or a data set could be used that isn't compliant with data
privacy regulations.
 Bias. Visualizations and the data they're based on should be scrutinized to ensure they
aren't intentionally or unintentionally biased. Failing to do so could compromise the
credibility of those analyses. For example, a data set that leaves out key demographics
within a population could lead to a biased visualization of that data.
 Statistical analysis is the process of collecting and analyzing data to identify trends and
insights, while hypothesis testing is a statistical inference method that uses data to
determine if a hypothesis is supported:
 Statistical analysis
 Involves collecting and analyzing data to identify trends and insights. Statistical analysts
use raw data to find correlations between variables and reveal patterns.
 Hypothesis testing
 A statistical inference method that uses data from a sample to draw conclusions about a
population parameter or distribution. It involves testing two hypotheses: the null
hypothesis and the alternative hypothesis. The null hypothesis is usually an equality
hypothesis, while the alternative hypothesis is its opposite.
 Here are some other things to know about hypothesis testing:
 Statistical hypothesis: A statement about a population, such as a statement about the
distribution of a random variable.
 Test statistic: A calculation that is part of the hypothesis testing process.
 P-value: A value that results from a statistical test. The P-value is used to determine if the
results are significant or not.
 Confidence interval: A range of values that can be used in hypothesis testing
 Exploratory Data Analysis (EDA)
 Exploratory Data Analysis (EDA) is a method of analyzing data sets to identify patterns
and relationships, and to uncover anomalies. It's often used as the first step in data
analysis, and can help inform the development of more complex statistical models.
 Here are some things you can learn from EDA:
 Patterns
 EDA can help you identify patterns in your data, such as outliers and unexpected
features.
 Relationships
 EDA can help you understand how variables are related to each other.
 Anomalies
 EDA can help you find anomalies in your data, such as outliers or unusual observations.
 Hypotheses
 EDA can help you generate interesting questions or hypotheses that you can test using
more formal statistical methods.
 EDA often uses statistical graphics and other data visualization methods, such as
histograms, box plots, and cluster analysis.
 What is Exploratory Data Analysis?
 ‍Exploratory Data Analysis (EDA), similar to data exploration, is a statistical technique to
analyze data sets for their broad characteristics. Visualization tools for exploratory data
analysis such as HEAVY.AI's Immerse platform enable interactivity with raw data sets,
giving analysts increased visibility into the patterns and relationships within the data.
 ‍Data Exploration in GIS
 GIS (Geographic Information Systems) is a framework for gathering and analyzing data
connected to geographic locations and their relation to human or natural activity on Earth.
With so much of the world's data now being location-enriched, geospatial analysts are
faced with a rapidly increasing volume of geospatial data.
 ‍Advanced GIS software solutions and tools can facilitate the incorporation of spatio-
temporal analysis into existing big data analytics workflows, enabling data analysts to easily
create and share intuitive data visualizations that will aid in spatial data exploration. The
ability to characterize and narrow down raw data is an essential step for spatial data
analysts who may be faced with millions of polygons and billions of mapped points. For
example, learn about the ways GIS technologies are improving disaster response operations.
 What is data cleaning in data analysis?
 Data cleaning is the process of preparing data for analysis by removing or modifying data
that is incorrect, incomplete, irrelevant, duplicated, or improperly formatted. This data is
usually not necessary or helpful when it comes to analyzing data because it may hinder
the process or provide inaccurate results.
 Data cleaning is the process of correcting these inconsistencies. Cleaning data might also
include removing duplicate contacts from a merged mailing list. A common need is
removing or correcting email addresses that don't use the correct syntax—like missing
a .com or not having and @ symbol.
 What is data inspection?
 To ensure that you're dealing with the right information you need a clear view of your
data at every stage of the transformation process? Data Inspection meets this need: it
is the act of viewing data for verification and debugging purposes, before, during, or after
a translation.
 In FME Desktop, you can use two data inspection tools: in Workbench via the Visual
Preview window or in a complementary application called the FME Data Inspector. In
this course we will discuss both, but will primarily use Visual Preview.
 Data Inspection Tools
 FME data inspection tools let you view data in any supported format. They are used
primarily to preview data before translation or to verify it after translation. You can use
them to set up and debug workspaces by inspecting data during the translation.
 FME data inspection tools are not designed to be full-featured spreadsheet, database, or
mapping applications. They have no analysis or editing functionality, and the tools for
 symbology modification or printing are intended for data validation rather than producing
output.
 Visual Preview
 Visual Preview is an embedded version of FME Data Inspector that displays features in a
Workbench window. Many - but not all - of the features available in the stand-alone Data
Inspector application are available in Visual Preview. Visual Preview lets you inspect
your data directly in Workbench as you build your workspace:
 Assignment –II
__________________________________________
Q.1. Define Analytical Decision Making? Explain the Steps for Analytical
Decision Making Process?

Q.2. Explain the Characteristics of Analytical Decision Making Process?

Q.3. Explain the Concept of Data Visualization with Data Visualization Tools?

Q.4. Describe the different tools for Business Analytics?

Q.5. Breaking Down Business Problem into Key Business Questions (KBQ)
that can be answer to Bossiness Analytics Explain?

Q.6. Write a short Note….

(A) Statistical analysis and Hypotheses Testing.

(B) Data Cleaning and data Inspection.

(C) Exploratory Data Analysis (EDA).

(D) Skills of Good Business Analyst.

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